TaxTMI 
TaxTMI 
2000 (11) TMI 87
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....by the learned single judge, by his order dated August 5, 1993 (see [1995] 211 ITR 500 (Cal)), has quashed the show-cause notice issued by the Commissioner of Income-tax under section 263 of the Income-tax Act, 1961. Aggrieved by that order, the present appeal has been preferred. It is not necessary to go into the detailed facts. Suffice it to say, a question of law has arisen as to whether the m....
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...., he exercised revisional power and issued show-cause notice. Against this show-cause notice the writ petition was filed by the petitioner by challenging that the order passed by the Commissioner of Income-tax, on the face of it, was illegal and contrary to the law laid down by this court in the case of Gasper (A.) v. CIT [1979] 117 ITR 581. Therefore, the learned single judge embarked upon furt....
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....he Act was not correct and he quashed that notice. Aggrieved by this order, the present appeal has been preferred by the Revenue. We have heard learned counsel for the parties and perused the records. Apparently, both the decisions, i.e., the decision given by the Allahabad High Court in the case of CIT v. Gulab Chand [1991] 192 ITR 495 and that of the Calcutta High Court in the case of Gasper (A....
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....eated as a casual and non-recurring receipt. As against this, the Allahabad High Court has taken a contrary view and treated the same to be a casual and non-recurring receipt. But this question is now no more res integra in view of the amended section 55 of the Income-tax Act and now such kind of incomes have been specifically mentioned as capital gains. This has been introduced by the Finance Act....